The finance ministry has already raised the fiscal deficit target to a more acceptable level of 5.3 per cent.
Claiming that the fundamentals of the economy are 'very strong', the newly-appointed economic affairs secretary Arvind Mayaram said, 'we already have a roadmap to be followed for fiscal consolidation.
The government is committed to restrict the fiscal deficit at 3.4 per cent of GDP as envisaged in the Budget.
With the government reducing the net worth for new entities in fuel-marketing space to Rs 250 crore, the market is open for new players like Total, Adani, and Saudi Aramco -- and even supermarkets - to open fuel outlets.
The Union Cabinet on Thursday cleared setting up of Cabinet Committee on Investment for providing expeditious clearances to major projects worth over Rs 1,000 crore (Rs 10 billion).
The foreign investment regulator cleared a decision on Vodafone Group Plc's $1.6 billion plan to take full ownership of its local unit.
Many bureaucrats have in the recent past switched sides to join companies.
Spectrum qualifies for the infrastructure criteria, say ministry officials.
The government on Friday approved sale of its minority stakes in four public sector firms -- Hindustan Copper, Oil India, MMTC and Nalco-- to raise up to Rs 15,000 crore.
The government is expected to take a decision tomorrow on the issue of allowing foreign airlines to buy up to 49 per cent stake in cash-starved Indian carriers.
Finance Minister P Chidambaram will soon have to decide whether to stick by his predecessor's choice of former Reserve Bank governor Y V Reddy for chairmanship of the 14th Finance Commission, to be set up next month.
Post-sale, the government stake would be 75 per cent, which will help NTPC to comply with the minimum public shareholding norms.
Ministries seek more discussions, Cabinet defers decision.
Finance ministry tells PM fiscal deficit target will be met, capex expenditure won't be cut and GDP growth will surpass 7.5%.
'We need to further catalyse economic growth and the government needs to increase revenue,' says G K Agarwal, BJP's national spokesperson on economic affairs.
The markets tanked 209 points after Finance Minister Pranab Mukherjee tabled the Union Budget in Parliament on Friday. Economic Affairs Secretary R Gopalan defends the measures, saying the markets will need time to comprehend the measures.
A meeting of the CCEA is likely to be held next week.
Although it has not been able to sell stake in any PSU so far this fiscal, the government will be able to meet the Rs 30,000 crore disinvestment target set for 2012-13, according to Department of Economic Affairs secretary Arvind Mayaram.
Of the seven surveys presented under Modi govt, predictions of three were quite close to the actual GDP growth rate, one saw the base year change in between, but the last three were way off the mark.
Finance Ministry officials are engaging in hectic parleys with the PSUs to speed up the process so that the disinvestments can take place in the December and March quarters.
The 15 proposals were cleared following recommendations by Foreign Investment Promotion Board.
The appointments committee of the Cabinet headed by Prime Minister Narendra Modi cleared Bhalla's appointment as OSD in the ministry with immediate effect.
Admitting that prices of sugar, pulses and vegetables are rising, the government today said it is planning to increase the subsidy for distribution of pulses through ration shops to provide relief to the common man.
"I dont think we will be able to contain fiscal deficit to our Budget plan of 5.1 per cent (of GDP). It could be 5.2 to 5.3 per cent, which is doable," Department of Economic Affairs Secretary Arvind Mayaram told reporters in New Delhi.
In a major decision to liberalise the broadcast sector, the government on Friday decided to raise FDI cap to 74 per cent in various services of the sector, except the TV news channels and FM radio where the cap of 26 per cent will apply.
"Amazon, better behave. Desist from being flippant about Indian symbols & icons. Indifference will be at your own peril," Das said in a tweet.
Rs 7 lakh crore will be invested to develop for over 80,000 km of highways including Bharatmala project in the next five years
'We get to know secrets such as some of India's top-rated firms do not always make payments when due and many State-owned, listed, enterprises that borrow in bond markets default regularly.' 'Without naming the bank, he says that ever-greening of poor loans by a part of India's shadow banking lay at the doorstep of India's banking, notably 'one private bank'.' Viral Acharya's Quest for Restoring Financial Stability in India won't be music to many ears, observes Tamal Bandyopadhyay.
The government holds 85.82 per cent stake in SAIL.
Domestic financial institutions and mutual funds on Wendesday pitched for rationalisation of tax provisions to improve ease of doing business in the country.
Provident fund body may get support to ensure interest rate comparable with other savings instruments.
he government is examining a plan of bank recapitalisation and considering an urban version of MNREGS.
The road transport ministry has asked the National Highways Authority of India (NHAI) to ascertain the findings of a report by the World Bank's Institutional Integrity Unit. According to the report, contractors paid bribes and gifts to influence the actions of NHAI officials and consultants.
The 21st meeting of FSDC comes against the backdrop of the economy hitting a six-year low growth rate of 5 per cent in the first quarter of 2019-20. Even some of the macroeconomic data for the second quarter does not portray an encouraging picture of the economy.
Probable reasons that led to failure of the sale process include 24 per cent government stake and corresponding rights, high debt, volatile crude oil prices, fluctuations in exchange rate, changes in macro environment, profitability track record of bidders and restriction on bidding by individuals.
Making water available is always a serious challenge in the summer for all public authorities. This year, the challenge is higher when hand-washing at every opportunity has become a necessity. So keeping potable water lines running without a glitch has become most necessary.
After growing at 8.4 per cent for consecutive financial years, economic growth fell to 6.5 per cent in 2011-12, primarily owing to a dismal show by the manufacturing sector, as well as a part of the services segment.
India's infrastructure financing requirements and the new manufacturing policy being finalised will open up $1 trillion opportunities for global investors over the next five years.
The Central Bureau of Investigation had called Karti for questioning on Thursday in connection with the foreign investment clearance given in the Aircel-Maxis deal in 2006 when his father Chidambaram was the finance minister.
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